Saving for your future is important, now more than ever. To help employees achieve their savings goals, GW offers a competitive retirement package with a wide selection of investment options.
Upon hire, employees may elect to contribute a portion of their salary to the 403(b) plan. These contributions may be tax-deferred or may be Roth post-tax contributions. Employees may select their own investment options, choosing how to invest their contributions and earnings. Employees may make changes to the amount they are contributing to the 403(b) plan, or to their investment selections, at any time.
Employees who have completed two years of eligible employment service at GW are eligible for the Base Retirement Plan. The two year service requirement may be satisfied in full or in part through prior service at another college or university. Once an employee is eligible to participate in this plan, GW will contribute an amount equal to 4% of the employee's base compensation automatically into this plan. GW will also contribute an amount equal to 150% of the first 4% of an employee's compensation is contributed to the
403(b) Plan as a matching contribution. The maximum match cannot exceed 6% of an employee's eligible compensation. GW contributions are always 100% vested.